Former Google CEO Calls Idea Of a More Decentralized Web ‘Very Powerful’

Eric Schmidt, the former CEO and chairman of Google, has expressed interest in Web3 and has also invested in cryptocurrencies. The idea of a more decentralized internet architecture is “extremely tempting” and “quite strong,” according to the wealthy technologist. Schmidt served in several capacities at Google and its parent firm Alphabet for over two decades before leaving in 2020. He became a strategic advisor at Chainlink Labs, the developer of Chainlink, a blockchain oracle solution provider, in December. “[Web3’s] economics are interesting. The platforms are interesting and the use patterns are interesting,” Schmidt told CNBC, singling out the concepts like content ownership and compensating people. “[It] doesn’t work yet, but it will.” One of the main issues that blockchain technology confronts, according to the former Google executive, is that a lot of time is spent combating assaults. Schmidt did not say which cryptocurrencies he owns, but he did say that if he were just starting out as a software developer, he would “want to work on AI algorithms or Web3.”The post Former Google CEO Calls Idea Of a More Decentralized Web ‘Very Powerful’ first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Former Google CEO Calls Idea Of a More Decentralized Web ‘Very Powerful’ appeared first on Cryptoknowmics-Crypto News and Media Platform.